Teamwork Financial Advisors LLC Sells 507 Shares of Enbridge Inc. (NYSE:ENB)

Teamwork Financial Advisors LLC lessened its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 6.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,370 shares of the pipeline company’s stock after selling 507 shares during the period. Teamwork Financial Advisors LLC’s holdings in Enbridge were worth $313,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ENB. Armstrong Advisory Group Inc. grew its holdings in shares of Enbridge by 3.2% in the fourth quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company’s stock worth $319,000 after acquiring an additional 230 shares during the period. Eagle Bay Advisors LLC boosted its position in Enbridge by 10.6% in the fourth quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company’s stock worth $106,000 after purchasing an additional 240 shares during the last quarter. Richardson Financial Services Inc. increased its position in shares of Enbridge by 28.4% during the 3rd quarter. Richardson Financial Services Inc. now owns 1,112 shares of the pipeline company’s stock valued at $45,000 after purchasing an additional 246 shares during the last quarter. Associated Banc Corp increased its position in shares of Enbridge by 3.6% during the 3rd quarter. Associated Banc Corp now owns 7,091 shares of the pipeline company’s stock valued at $288,000 after purchasing an additional 248 shares during the last quarter. Finally, Hobbs Group Advisors LLC lifted its stake in shares of Enbridge by 15.1% in the 3rd quarter. Hobbs Group Advisors LLC now owns 1,897 shares of the pipeline company’s stock worth $77,000 after purchasing an additional 249 shares during the period. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Stock Down 1.2 %

ENB opened at $44.77 on Thursday. The stock has a market cap of $97.53 billion, a price-to-earnings ratio of 20.73, a price-to-earnings-growth ratio of 4.20 and a beta of 0.93. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The firm’s fifty day moving average is $42.89 and its 200 day moving average is $40.76. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The business had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the previous year, the business earned $0.46 earnings per share. On average, sell-side analysts forecast that Enbridge Inc. will post 1.97 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 5.99%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is currently 121.76%.

Wall Street Analyst Weigh In

ENB has been the subject of a number of research reports. TD Securities initiated coverage on shares of Enbridge in a report on Wednesday, January 15th. They set a “buy” rating for the company. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Royal Bank of Canada reissued an “outperform” rating and set a $63.00 price target (up previously from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Morgan Stanley initiated coverage on Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating for the company. Finally, Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Enbridge currently has a consensus rating of “Hold” and a consensus target price of $63.00.

Enbridge Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.